Home Highlights October 2013 Year 2013 This

You may also like:

1. Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

2. Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

3. Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

4. Reassessment u/s 147 - Classification of head of Income – Income to be assessed under the head of ‘Income from House property’ or ‘Income from the business’ - reopening...

5. Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

6. Correct head of income - lease rent received by the assessee - Business of assessee taken over by the another Company as was running as JV - assessed under the head...

7. The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

8. Nature of income - Income from warehouse - income from warehouse has to be assessed under the head income from house property not under the head income from business and...

9. Treatment to commission income - commission income earned by the assessee is chargeable to tax under the head of "Profits and gains of the business" only. As business,...

10. Correct head of income - Lease rent received - to be treated as business income or as income from other sources - There was no attempt to exploit the commercial assets...

11. Correct head of income - letting out of Hotel/Resort as running business - treatment of revenue receipts from operation of Hotel/Resort - Contract for managing the...

12. Correct head of income - profit on sale of land /immovable property - business income or capital gain income - Correct head of income - profit on sale of land /immovable...

13. Interest earned on loans given to employees will be taxed under the head “business income” - AT

14. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

15. Classification of goods - preparation of Whole Wheat parota and Malabar parota - even if the applicant’s argument of classification of impugned products under heading...